Anterra Energy Inc.
TSX VENTURE : AE.A
TSX VENTURE : AE.B

Anterra Energy Inc.

March 17, 2008 16:46 ET

Anterra Increases Net Proved Plus Probable Reserves by 45% in 2007

CALGARY, ALBERTA--(Marketwire - March 17, 2008) - Anterra Energy Inc. ("Anterra" or the "Company") (TSX VENTURE:AE.A) (TSX VENTURE:AE.B) today announced its reserves for the year ended December 31, 2007, as prepared by Calgary-based AJM Petroleum Consultants.

Reserve report shows increase in reserves

- Anterra's net proved reserves increased 46% to 1,011,200 boe, compared to 694,400 boe at year end December 31, 2006.

- Net proved plus probable reserves increased 45% to 1,548,600 boe, versus 1,065,200 for the comparable period in 2006.

- Calculations indicate a reserve life index of 7.1 years on a total proven basis and of 8.6 years on a total proven plus probable basis. Reserve life indexes are based on AJM's forecast for 2008 production rates of 495 boe/d under the proven plus probable case, and 392 boe/d under the proven case.

- Anterra's net asset value per share at December 31, 2007 was $0.95 per basic share and $0.80 per diluted share, using AJM forecast prices discounted at 10%.

"The reserve additions in 2007 came from our lower risk development projects at Breton, in central Alberta, and at Frontier, in southwest Saskatchewan," said Owen Pinnell, Chairman and CEO. "Further development drilling is required in north central Alberta to determine reserves on our exploration properties at Judy Creek and Sakwatamau. Our focus in 2008 will be on exploiting the considerable inventory of development drilling locations on our core properties at Frontier, Breton and Sakwatamau and on joint venturing the drilling of wells on our exploration properties at Judy Creek and Shadow".



Summary of Company Interest Reserves and Present Values
AJM December 31, 2007 Forecast Pricing
Effective Monday, January 1, 2008 (i)


VOLUMES IN IMPERIAL UNITS - BEFORE INCOME TAXES

Oil Sales Gas NGL
-----------------------------------------------
Gross Net Gross Net Gross
Reserves Category (MStb) (MStb) (MMcf) (MMcf) (MStb)
------------------
Proved Developed Producing 542.0 519.9 956.0 637.9 10.3
Proved Developed Non-
Producing 19.8 19.4 10.8 8.2 0.0
Proved Undeveloped 299.1 275.7 574.9 494.3 0.0
------------------------------------------------
Total Proved 860.8 815.1 1,541.8 1,140.3 10.3
Probable Additional 481.8 444.3 698.6 532.0 6.5
------------------------------------------------
Total Proved + Probable 1,342.6 1,259.5 2,240.4 1,672.3 16.8


Present Value Cash Flow
------------------------------------------------
Net 0% 5% 10% 15%
Reserves Category (MStb) (M$) (M$) (M$) (M$)
-----------------
Proved Developed Producing 6.1 21,566 17,783 15,118 13,200
Proved Developed Non-
Producing 0.0 449 352 285 238
Proved Undeveloped 0.0 20,184 11,118 6,870 4,521
------------------------------------------------
Total Proved 6.1 42,199 29,253 22,273 17,958
Probable Additional 4.3 33,483 15,747 9,289 6,324
------------------------------------------------
Total Proved + Probable 10.4 75,682 45,000 31,563 24,282

VOLUMES IN METRIC UNITS - BEFORE INCOME TAXES

Oil Sales Gas NGL
-----------------------------------------------
Gross Net Gross Net Gross NET
Reserves Category (E3M3) (E3M3) (E6M3) (E6M3) (E3M3) (E3M3)
-----------------
Proved Developed Producing 86.2 82.7 26.9 17.9 1.6 1.0
Proved Developed Non-
Producing 3.1 3.1 0.3 0.2 0.0 0.0
Proved Undeveloped 47.6 43.8 16.2 13.9 0.0 0.0
------------------------------------------------
Total Proved 136.9 129.6 43.5 32.2 1.6 1.0
Probable Additional 76.6 70.6 19.6 15.0 1.0 0.7
------------------------------------------------
Total Proved + Probable 213.5 200.2 63.1 47.2 2.7 1.7

Present Value Cash Flow
----------------------------------------
0% 5% 10% 15%
Reserves Category (k$) (k$) (k$) (k$)
Proved Developed Producing 21,566 17,783 15,118 13,200
Proved Developed Non-Producing 449 352 285 238
Proved Undeveloped 20,184 11,118 6,870 4,521
Total Proved 42,199 29,253 22,273 17,958
Probable Additional 33,483 15,747 9,289 6,324
Total Proved + Probable 75,682 45,000 31,563 24,282
Notes: Cash Flows do not include the Alberta Royalty Tax Credit and values
may not add due to rounding


Summary of Pricing Assumptions (i)

Natural Gas
Light and Medium Crude Oil Natural Gas Liquids
Edmonton Cromer
WTI Par Price Medium AECO Gas
Cushing 40 degrees 29.3 degrees Price Edmonton
Oklahoma API API Average Propane
($US/bbl) ($Cdn/bbl) ($Cdn/bbl) ($Cdn/bbl) ($Cdn/bbl)

Year
2008 85.00 $ 85.65 $ 73.65 $ 6.90 $ 55.65
2009 81.60 $ 84.75 $ 72.75 $ 7.75 $ 55.10
2010 81.15 $ 87.05 $ 75.05 $ 8.10 $ 56.60
2011 79.60 $ 87.25 $ 75.25 $ 8.50 $ 56.70
2012 77.95 $ 85.40 $ 73.40 $ 8.65 $ 55.50
2013 77.30 $ 84.60 $ 72.60 $ 9.10 $ 55.00
2014 78.85 $ 86.30 $ 74.30 $ 9.30 $ 56.10
2015 80.40 $ 88.05 $ 76.05 $ 9.50 $ 57.25
2016 82.00 $ 89.80 $ 77.80 $ 9.65 $ 58.35
2017 83.65 $ 91.60 $ 79.60 $ 9.85 $ 59.55
2018 85.35 $ 93.45 $ 81.45 $ 10.05 $ 60.75


Inflation Exchange
Rate Rate
$US/$Cdn
Year
2008 0% 0.98
2009 2% 0.95
2010 2% 0.92
2011 2% 0.90
2012 2% 0.90
2013 2% 0.90
2014 2% 0.90
2015 2% 0.90
2016 2% 0.90
2017 2% 0.90
2018 2% 0.90

(i) The preceding tables summarize certain information contained in the AJM
Report. AJM Petroleum Consultants is an independent qualified reserves
evaluator, appointed pursuant to National Instrument 51-101. Detailed
reserves disclosure will be included in the Company's Annual Information
Form for the year ended December 31, 2007. It should not be assumed that
the estimates of future net revenue presented in the tables represent the
fair market value of the reserves. There is no assurance that forecast
prices and costs assumptions will be attained. Variances could be material.
The recovery and reserve estimates of crude oil, natural gas liquids and
natural gas reserves provided herein are estimates only. There is no
guarantee that the estimated reserve will be recovered. Actual crude oil,
natural gas and natural gas liquid reserves may be greater than or less
than the estimates provided herein. The pricing assumptions used in the
report with respect to net values of future net revenue (forecast), as well
as the inflation rates used for operating and capital costs, are as
indicated above.


About Anterra Energy

Anterra Energy is an emerging energy company with a balanced portfolio of high impact exploration and lower risk exploitation projects. Complementing this strong exploration and development focus, the Company owns and operates oil and gas production and associated fee-based midstream facilities in western Canada. Anterra is a public Canadian company listed on the TSX Venture Exchange under the symbols AE.A and AE.B. More information about Anterra is available on the internet at www.anterraenergy.com

Forward-Looking Information

This news release contains forward-looking information related to the Company's planned drilling program, production and operating costs. These statements are based on current expectations that involve a number of risks and uncertainties, which could cause actual results to differ from those anticipated. These risks include, but are not limited to, risks associated with the oil and gas industry (e.g., operational risks in development, exploration and production; delays or changes in plans with respect to exploration or development projects or capital expenditures; the uncertainty of estimates in relation to reserves, production and expenses; health, safety and environmental risks; and the uncertainty of dealing with government and obtaining regulatory approvals). Due to the risks, uncertainties and assumptions inherent in forward-looking statements, prospective investors in the Company's securities should not place undue reliance on them.

In addition, the term BOE or BOEs may be misleading, particularly if used in isolation. A BOE (barrel of oil equivalent) conversion ratio of 6 Mcf per one (1) BOE is based on an energy equivalency conversion method primarily applicable at the burner tip and does not represent a value equivalency at the wellhead.

32,169,040 Class A Shares

753,014 Class B Shares

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